LBI Real Estate Weekly Sales Update 3/10/2019-3/17/2019: The Long Beach Island real estate market had an active week. In particular a higher than average number of homes went into pending. To help understand the dynamics of the LBI real estate market for buyers, sellers and investors I publish a weekly sales update for the Long Beach Island real estate market in addition to my monthly analysis of home sales. You can review all the active, pending, sold and withdrawn listings that are or were for sale on Long Beach Island in the given time frame. To give a quick summary:
20 new listings entered the market with an average price of $1,100,000 (rounded)
18 listings went under contact with an average listing price of about $1,000,000 (rounded)
Loveladies saw very little change from 2017 to 2018. This is one of the few markets on Long Beach Island that did not see a major change. There were almost the same number of sales in 2017 and 2018, 43 and 42 respectively. In total there were 42 transactions of all property types including single family homes, condominiums, multi-family homes, vacant land and commercial real estate. The average price of a single family home, the only style of home to sell in Loveladies, was over $1,600,000. This was still the highest on LBI for 2018 but a little lower than last year.